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budget office is predicting high unemployment continued through 2014 but, this is a big but, a lower deficit, the smallest since president obama's been in office, well under $1 trillion. they attribute that to an improving economy and to the fiscal cliff deal. veronica. >> tracie potts, thank you. >>> a major decision expected from the boy scouts of america. national board members set to vote on whether to lift the decade long ban on guy leaders and scouts. it comes after a meeting at the texas headquarters. it is a controversial issue from both sides and putting one of the largest youth organizations under a microscope. scouting should be open to everyone. texas governor rick perry expressed the opposite opinion. board members choose to scrap the policy, local scout units will be able to decide for themselves on whether or not to admit gays to the rankings. >>> on the heels of the boy scouts decision, the pentagon is announcing a policy shift for guy service members and partners. leon panetta expected to extend benefits to partners of personnel. it remains doubtful that medical, down theal
budget office is predicting high unemployment continued through 2014 but, this is a big but, a lower deficit, the smallest since president obama's been in office, well under $1 trillion. they attribute that to an improving economy and to the fiscal cliff deal. veronica. >> tracie potts, thank you. >>> a major decision expected from the boy scouts of america. national board members set to vote on whether to lift the decade long ban on guy leaders and scouts. it comes after a...
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther and live healthier lives. this is important for families and the economy. we are helping people stay healthy longer and one of
we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you...
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this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had throw years of recovery relative to europe. if we're ever going to take the hit this is a better time to take t if this were three years ago, i would be arguing right with you. i think we can take a chance. when are we going to get the chance to take these cuts in the pentagon or take a bite out of the deficit? i think it's worth it. >> now twittering dean quester. >> if he would stop blaming someone else other than himself and man up and take responsibility. >> kris hayes, i'm sure your guests will have much more explaining on kicking the can down the road. >> thank you. >>> ousted fox news contributor says he's on a mission fo
this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had...
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trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely boosted growth in the last three months of 2012. >> so this is a good sign that exports were a little stronger than we thought when the numbers were first estimated and that is obviously a good sign for the economy. again, the economy is obviously growing way too slowly, but at least on this note, i think it will be revised upward. energy is a now a bright spot for the u.s. economy. thanks to new fracking technology, surging domestic production cut crude oil imports last year by 227 million barrels. but that success was offset somewhat by i
trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely...
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as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75
as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets,...
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a balanced approach has achieved more than $2.5 trillion in deficit reduction. that's more than halfway towards the $4 trillion in deficit reduction that economists and elected officials from both parties believe is required to stabilize our debt. so we've made progress. i still believe that we can finish the job with a balanced mix of spending cuts and more tax reform. the proposals that i have put forward during the fiscal cliff negotiations in discussions with speaker boehner and others, are still very much on the table. i just want to repeat, the deals that i put forward, the balanced approach of spending cuts and entitlement reform and tax reform that i put forward are still on the table. i have offered sensible reforms to medicare and other entitlements, and my health care proposals achieved the same amount of savings by the beginning of the next decade as the reforms that have been proposed by the bipartisan bowls simple son fiscal commission. these reforms radio reduce our government's bill. what's up, cameraman? come on, guys. they're breaking my flow a
a balanced approach has achieved more than $2.5 trillion in deficit reduction. that's more than halfway towards the $4 trillion in deficit reduction that economists and elected officials from both parties believe is required to stabilize our debt. so we've made progress. i still believe that we can finish the job with a balanced mix of spending cuts and more tax reform. the proposals that i have put forward during the fiscal cliff negotiations in discussions with speaker boehner and others, are...
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what about deficits? we have a jobs crisis in this country. not a deficit crisis. to me, the whole conversation has been pushed to the right further than it should be. >> and karen, on a last note, in anticipation of the president's speech, the white house released numbers on the people affected by the cuts. i believe around 600,000, between 600,000 and 800,000 suffering as a result of cuts to food stamps and other program that is people need to survive these days and at least some of the analysis out there, democrats feel that they can win this argument over these cuts and that it's likely we're going to hear from the president words like corporate jets, big oil in the state of the union positioning the every day working people against those against who says he not paying their fair share. >> i think there was an interesting speech this week earlier from eric cantor, the house majority leader. i think people want to hear about more than just the deficit numbers but really concrete measures that are going to be enacted to make their lives better and what people are
what about deficits? we have a jobs crisis in this country. not a deficit crisis. to me, the whole conversation has been pushed to the right further than it should be. >> and karen, on a last note, in anticipation of the president's speech, the white house released numbers on the people affected by the cuts. i believe around 600,000, between 600,000 and 800,000 suffering as a result of cuts to food stamps and other program that is people need to survive these days and at least some of the...
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they say, well, if this is the way to get spending cut and tackle the deficit immediately, we're willing to and see what is happening. >> thank you, nancy. >>> that's a wrap at this hour. of "weekends with alex witt." join me for a two-hour edition of the show at noon eastern. but straight ahead, more political talk with "up with chris hayes." among his special guests, gloria steinem and marlo thomas. stay with us. our financial advice is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] [ male announcer ] life brings obstacles. usaa brings retirement advice. call or visit us online. we're ready to help. learn more with our free usaa retirement guide. call 877-242-usaa. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love.
they say, well, if this is the way to get spending cut and tackle the deficit immediately, we're willing to and see what is happening. >> thank you, nancy. >>> that's a wrap at this hour. of "weekends with alex witt." join me for a two-hour edition of the show at noon eastern. but straight ahead, more political talk with "up with chris hayes." among his special guests, gloria steinem and marlo thomas. stay with us. our financial advice is geared specifically...
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or so more jobs a month but hardly enough and remember the seasonal adjuster factor affect bd i the deficit. >> one last question to you both. we did not extend the payroll tax this past year. what affect in the numbers from that? >> well, it is a little soon to really figure that out. i mean, it is true now that you mention it that the 157 in january is significantly off the pace of job creation in november and december. >> right. >> but i am quite certain that, you know, taking over 100 billion out of the 2013 economy already a bit wobbly by my lights is going to cost us on the growth and jobs side. >> yeah. one of the telling things was that in december there was a big jump in personal income because of people getting bonuses early and things like that. but spending didn't go up very much. and economists are expecting weak retail numbers for january. i think it's the seasonal adjustment factors again. my feeling is to see a drag in the third quarter. excuse me, the first quarter. and then have to be carried by the recovery of government spending because i don't think we have another drag
or so more jobs a month but hardly enough and remember the seasonal adjuster factor affect bd i the deficit. >> one last question to you both. we did not extend the payroll tax this past year. what affect in the numbers from that? >> well, it is a little soon to really figure that out. i mean, it is true now that you mention it that the 157 in january is significantly off the pace of job creation in november and december. >> right. >> but i am quite certain that, you...
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we talk about needing a balanced approach to cut this deficit, but why exactly do we need a balanced approach? it's not as if the economy distributes its games in a balanced way. if over the last ten or 15 years wages had gone up equally and profits had gone to the top 1% in an equal way, then you can say we need to rein in the deficit. instead, it seems like all of the games go to the top 1% but when it's time for pain, that we're going to spread across. that we need to give to social security, medicare, medicaid and we can't touch taxes. >> ryan grim and shira, have a good weekend. good luck. >> thank you. >>> snow is starting to fall across the northeast and forecasters say before it's done, this will be one for the record books. stephanie abrams is live for us in new york city's times square. good morning. >> reporter: chris, good morning to you. in times square, we have seen it all. nemo has been a triple threat, rain, sleet, and snow. laguardia and central park have been reporting all snow throughout the morning hours and it's not only new york. it goes into connecticut. and ne
we talk about needing a balanced approach to cut this deficit, but why exactly do we need a balanced approach? it's not as if the economy distributes its games in a balanced way. if over the last ten or 15 years wages had gone up equally and profits had gone to the top 1% in an equal way, then you can say we need to rein in the deficit. instead, it seems like all of the games go to the top 1% but when it's time for pain, that we're going to spread across. that we need to give to social...
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we don't need to do this now so i think we should -- we've done plenty of deficit reduction for right now. the newest cbo numbers show the deficit is going to come down dramatically in the next couple of years. let's get to another election. >> can you really say -- can you real say we've done deficit reduction when in fact the only thing that was cut was the projected it was -- laura. we still have $16.4 trillion in debt. that's -- >> yes, and i want to ask you, maria, what's the concern about that? can we pay off that debt? all of the world's bond markets and capital investors think we can. i think we can. i don't know why we want to fix it sate on that number right now. i want to fixate on fixing debt to gdp ratio. i said, there was more work to be done. we do not have to do it this year and we do not have to do it in this way. >> real quick, what are the olds of the deal? bob? >> ah, 30%. >> 30% odds of a deal. you agree with that, laura? >> you know, we might blow through the sequester deadline. i think once people look at the cuts that are required, they are going to back away,
we don't need to do this now so i think we should -- we've done plenty of deficit reduction for right now. the newest cbo numbers show the deficit is going to come down dramatically in the next couple of years. let's get to another election. >> can you really say -- can you real say we've done deficit reduction when in fact the only thing that was cut was the projected it was -- laura. we still have $16.4 trillion in debt. that's -- >> yes, and i want to ask you, maria, what's the...
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us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to close some tax loopholes and deductions that the average american cannot take advantage of, to raise the revenue, to actually do the job in a way that allows us to continue to grow. now, the reason this is relevant is because i gather and i haven't gotten this from first-hand sources, but from second hand sources in the press that our friends on the other side of the aisle, their position is we're concerned about the sequester. we recognize that just cutting the federal spending with the meat ax as opposed to scalpel is probably damaging and will damage our national security and will damage our e
us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to...
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trade deficit data which was at the lowest trade deficit for the u.s. since january of 2010, so that's some positive news. we also have mcdonald's importing their global sales down about 2% so that's a little bit of a drag on the dow jones industrial average. but i know the most important story of the day for you has to do with apple and its $137 billion worth of cash but it still can't protect your phone. >> no, it can't. it can't. i'm telling you. i lost another one -- went 2 1/2 feet from out of my mitten to the pavement and it's gone. >> it's like every six months for you. >> do you have a case? >> now i'm going to spend money on the case? so i have a blackberry filling in. brian, look at this. whoops. oh, i dropped it. let me see. do i have to buy a new one? look. >> and it still works? >> it still works. it's unbelievable. look. that happened. i did that to the iphone yesterday and it cracked and it turned black, and now we must replace it. >> my wife has the -- >> sam, check that, see if it works. >> the only basically indestructible case for the
trade deficit data which was at the lowest trade deficit for the u.s. since january of 2010, so that's some positive news. we also have mcdonald's importing their global sales down about 2% so that's a little bit of a drag on the dow jones industrial average. but i know the most important story of the day for you has to do with apple and its $137 billion worth of cash but it still can't protect your phone. >> no, it can't. it can't. i'm telling you. i lost another one -- went 2 1/2 feet...
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the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to be paying a lot of money on that debt, and it's going to crowd out vital public services. and that's why we had to worry about the debt all along. and we didn't. now it's built up. now we're facing reality. i thought it was a little odd. the president said, well, we have to do something, but he didn't offer anything to do because the main part he played was two months ago, he said, let's make the tax cuts permanent, both sides, and now we see, well, you can't afford that. >> you talk about paul krugman -- >> that's what they
the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to...
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to pay down the deficit. and potentially to make our businesses more competitive. >> president's call comes a day after his two most southeastern defense advisors warned the sequester would make the country less safe, and the president says the domestic spending cuts would slow down the economic recovery, which isn't producing jobs fast enough even now, shepard. >> shepard: what are we hearing from republican? reporter: they say the sequester was a white house idea. though the goal was to force a compromise by the so-called supercommittee. that didn't happen. now some lawmakers in both parties say the sequesterses of across the board cuts would be better than a bad deficit reduction deal. one senator said rather than continuing to raise taxes on hard-working americans, congress ought to be looking at ways to reduce our runaway federal spending. senator mitch mcconnell says congress acted on the tax issue when it allowed the bush administration tax cuts for the well-to-do to expire. some of them. now he says i
to pay down the deficit. and potentially to make our businesses more competitive. >> president's call comes a day after his two most southeastern defense advisors warned the sequester would make the country less safe, and the president says the domestic spending cuts would slow down the economic recovery, which isn't producing jobs fast enough even now, shepard. >> shepard: what are we hearing from republican? reporter: they say the sequester was a white house idea. though the goal...
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everyone is into this deficit, cut the deficit. now, we've got to expand into infrastructure. we've got to fix roads and water systems. we have to spend money in order to save money. you'd have to go back work at doing those things, you will cut the deficit. the steel mills went under in this country basically because they didn't ram last in their company. we need to reinvest in our country before it's too late. thank you. >> host: thursday when debates on which avenue to take, to cut spending or investing government. >> guest: that's kind of at the core of what democrats and republicans argue about. from my perspective this is nitrous question, that maybe the citrus question. the two sides are talking past each other. you know, what we need is a long one plant to address the budget deficit. insert indicates the economy needs more investment and growth in the short run, but also the case if you look at any long run and title match at the found his dog is not sustainable. something has to be done over the course of the next 10, 20, 30, 40 years to address entitlement commitment
everyone is into this deficit, cut the deficit. now, we've got to expand into infrastructure. we've got to fix roads and water systems. we have to spend money in order to save money. you'd have to go back work at doing those things, you will cut the deficit. the steel mills went under in this country basically because they didn't ram last in their company. we need to reinvest in our country before it's too late. thank you. >> host: thursday when debates on which avenue to take, to cut...
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keynesian can kicking, the economy has to be supported by a tril do i don't know dolla- trillion dollar deficit, if it is not we're going down the drain, that is nonsense, we cannot keep borrowing from future generations, and passing out money, and so we could have a little more gdp a quarter of a time, we have to face up to this, we did in 1980s, the system today is incapable, i blame the fed and greenspan for creating thar ofa wall street coddling. once they said they could not allow the stock market to drop more than 5%, and prop up the big wall street houses -- . charles: david, you criticized romney a lot during the election, talking about crony capitalism but the same token have you been a critic of paul ryan as well. so who has a solution? if mitt romney did not represent capitalism, this defore may be of capitalism in your book, what is that about? >> it is getting back to first principles and remembering what we used to think in the 19 70s, and 60s, and the 1920s, today it is such a lincoln day dinner rhetoric. romney was unwilling to cut defense, he said nothing about social security.
keynesian can kicking, the economy has to be supported by a tril do i don't know dolla- trillion dollar deficit, if it is not we're going down the drain, that is nonsense, we cannot keep borrowing from future generations, and passing out money, and so we could have a little more gdp a quarter of a time, we have to face up to this, we did in 1980s, the system today is incapable, i blame the fed and greenspan for creating thar ofa wall street coddling. once they said they could not allow the...
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but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a good eye, what caught yours? >> one thing i saw was the revisions to last year's employment growth was such that i thought we were adding 150,000 jobs a month in 2012. i thought it was okay. turns out we're adding 180,000 jobs per month last year. so we did a bit better. over 2 million jobs on the year. now on the gdp side, most economists, don't think it will stick. i think it it volatility, i think there were unusual things that happened. in the quarter to quarter changes, it is better to look year over year. >> and do you mean what happens in a month or two we'll get t
but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a...
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. >> the fact is though, we can't finish the job deficit reduction through spending cuts alone. >> yes, we can. [ laughter ] >> we can. >> john: now, that is romance. before we go tonight. one more look at the radar on the scene from boston as the huge storm is getting ready to wrap you up. expected to dump as much as 3-foot of snow in massachusetts and new england. we at fox will be watching this closely. we have complete coverage for you this evening and again tomorrow as new england starts to dig out. that's it for "special report" for tonight. i'm john roberts in for bret baier. good night from washington. "the fox report" is next. >> shepard: this is the fox report. tonight, pictures from massachusetts. waves crashes as a major winter storm moves into the northeast. plus, any minute now we're expecting law enforcement to updates us on this manget the manhunt for this excop accused of killing three people and promising to kill many more. we will bring that to you live. plus, the secret service looking into who apparently got into the email accounts of the bush family. but first fro
. >> the fact is though, we can't finish the job deficit reduction through spending cuts alone. >> yes, we can. [ laughter ] >> we can. >> john: now, that is romance. before we go tonight. one more look at the radar on the scene from boston as the huge storm is getting ready to wrap you up. expected to dump as much as 3-foot of snow in massachusetts and new england. we at fox will be watching this closely. we have complete coverage for you this evening and again tomorrow...
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we're not out of the deficit of the 8 million jobs already lost. in terms of a system being skewed, if we are continually supported a system where jobs go to the already employed, we are really not doing anything to foster the economic recovery that is going to benefit everybody. in society. none of these laws and nothing the national employment law practice is advocating says you have to fill open jobs with unemployed people. we are saying that qualified unemployed people should be allowed to compete on terms that are fair and that is good for all of us in our economic recovery. host: baltimore, maryland, just hired. caller: i would like to say one thing -- i love cspan and site -- and i love to make it through my phone call. go ravens. i live in baltimore city and the unemployment rate in baltimore city is unbelievable. the problem you have is that not only is there so many people unemployed but that there is a lack of job opportunities. how will the work that you are doing affect people live in urban america who are african- americans who are la
we're not out of the deficit of the 8 million jobs already lost. in terms of a system being skewed, if we are continually supported a system where jobs go to the already employed, we are really not doing anything to foster the economic recovery that is going to benefit everybody. in society. none of these laws and nothing the national employment law practice is advocating says you have to fill open jobs with unemployed people. we are saying that qualified unemployed people should be allowed to...
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Feb 6, 2013
02/13
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deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate will remain above 7.5%. that would make 2014 the 6th year in a row with unemployment so high. the longest such period in 70 years. martha: the unemployment rate has been above 7% since december of 2008. and most recent monthly number ticked up from 7.9% from 7.8%. not a good trend. when you look at some of these numbers it makes it a tough argument for economic recovery. but the president remains convinced we are starting to see it. gregg: poverty is up. incomes are down. so the arrow is going the wrong way. in the meantime president oba
deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate...
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wake clawed back from a 20 point deficit to climb within 3 in the closing minutes maryland prevails, 73-63. that is a quick hit of sports hope everybody has a good nigh this is so sick! i can't believe your mom let you take her car out. this is awesome! whoooo! you're crazy. go faster! go faster! go faster! go faster! no! stop...stop... (mom) i raised my son to be careful... hi, sweetie. hi, mom. (mom) but just to be safe... i got a subaru. (announcer) love. it's what makes a subaru a subaru. hey! hey honey! hey alan. uh, hey.... i'm bob, we talked at the tax store. i did your taxes. i thought you were a tax expert? today, i'm a master plumber. major tax stores advertise for preparers with "no tax experience necessary." at turbotax, you only get answers from cpas, eas or tax attorneys - all real tax experts. ...than h&r block stores and all other major tax stores combined. >>> it wasn't a pretty sight at this annual parade in switzerland. people wore all these ugly masks the reason for the masks dates back to the 15th century. people wear them to scare off the goods of winter. -- god
wake clawed back from a 20 point deficit to climb within 3 in the closing minutes maryland prevails, 73-63. that is a quick hit of sports hope everybody has a good nigh this is so sick! i can't believe your mom let you take her car out. this is awesome! whoooo! you're crazy. go faster! go faster! go faster! go faster! no! stop...stop... (mom) i raised my son to be careful... hi, sweetie. hi, mom. (mom) but just to be safe... i got a subaru. (announcer) love. it's what makes a subaru a subaru....
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Feb 5, 2013
02/13
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to pay down the deficit, and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans as well as independence, have the same view, and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be finished before march 1st and unfortunately, that's the date when a series of harmful automatic cuts to job creating investments and defense spending also known as the sequester are scheduled to take effect. so if congress can't act immediately on a bigger package, if they can't get a bi bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until congress finds a way to repla
to pay down the deficit, and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans as well as independence, have the same view, and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be...
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Feb 5, 2013
02/13
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joe, you talked about the need to manage down the debt and deficit. we've been for that and we will continue to demonstrate our commitment to fiscal discipline and want the president to join us. we also in all of this, i don't think completed a sentence, we're trying to do this to help people, trying to do it to help the moms and dads having a very difficult time right now. i get it. i'm a parent and get what working parents are going through and trying to address the needs of educatiing childre and the needs of health care costs rising and implementation of the president's health care law and we will talk about trying to make life work again for so many millions of americans. >> let me ask you this, one of the great frustrations, i was on the panel of any national conservative institute and people talking about not only the conservative movement but the republican party. one of the frustrations voiced by bill crystal and john pedoritz -- did i say it right? we complained about dodd-frank but really didn't have a strong alternative to dodd-frank. we c
joe, you talked about the need to manage down the debt and deficit. we've been for that and we will continue to demonstrate our commitment to fiscal discipline and want the president to join us. we also in all of this, i don't think completed a sentence, we're trying to do this to help people, trying to do it to help the moms and dads having a very difficult time right now. i get it. i'm a parent and get what working parents are going through and trying to address the needs of educatiing...
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Feb 1, 2013
02/13
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bring down the deficits in a balanced, responsible way. >> is washington the biggest problem for the economy? >> i think clearly it is a major headwind. it spends a lot of money ineffectively. you can say that whether you're a conservative or a liberal. a source of job loss. in spite of conservative harping of government occupying too much, there's 1.5 million job shed from state and local government. a lot of those are teachers, first responders. and the inability of the government to put capital in motion and $3 trillion plus in spending in any way effectively is not doing any of us any particular good. the only happening decent right now in terms of growth tends to be what's going on ex-government and that doesn't mean that government couldn't do a lot better but washington isn't. >> let's talk about what's happening on wall street as the banner says, main street versus wall street or main street and wall street depending on your perspective. sometimes it does feel like it's a us against them scenario but the dow now over 14,000 mark. still with the millions of people looking for
bring down the deficits in a balanced, responsible way. >> is washington the biggest problem for the economy? >> i think clearly it is a major headwind. it spends a lot of money ineffectively. you can say that whether you're a conservative or a liberal. a source of job loss. in spite of conservative harping of government occupying too much, there's 1.5 million job shed from state and local government. a lot of those are teachers, first responders. and the inability of the government...
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Feb 2, 2013
02/13
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CNBC
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the deficit that way. but if you aren't concerned about the deficit, if you think job growth is the most important thing and growth in general, then i don't think you should either cut taxes -- i don't think you should raise taxes or cut spending right now. i think you should focus just on stimulus. >> what they should do is slash across the board all these goofy departments, just really rip into them. and along with that pro-growth tax reform. especially pro-growth business tax reform. and then you'll have the kind of growth that keith is talking about that would actually solve the financial position. >> keith wants growth in general. i don't want growth in general. i want private sector growth. i don't want a bunch of phony government spending that's going to proup gdp numbers. i want private sector growth. if the president wants to make a deal where we get rid of some of these short-term spending cuts for long-term spending cuts he can, but the deal's not going to be -- he doesn't want to do it. he want
the deficit that way. but if you aren't concerned about the deficit, if you think job growth is the most important thing and growth in general, then i don't think you should either cut taxes -- i don't think you should raise taxes or cut spending right now. i think you should focus just on stimulus. >> what they should do is slash across the board all these goofy departments, just really rip into them. and along with that pro-growth tax reform. especially pro-growth business tax reform....